According to breaking news, the US non-farm payroll and unemployment rate data that all financial markets have been waiting for has been released. The details of the data were determined as follows: Unemployment rate: 4.2% (expected: 4.2%) Nonfarm payrolls: +73K (expected: +110K) Private sector employment: +83K (expected: +100K) Hourly earnings (Y/Y): +3.9% (expected: +3.8%) Hourly earnings (M/A): +0.3% (expected: +0.3%) Participation rate: 62.2% (expected: 62.3%) Manufacturing employment: -11K (expected: -3K) Average weekly working hours: 34.3 hours (expected: 34.2) Broadly defined unemployment (U-6): 7.9% Bitcoin's initial reaction to the data is as follows: Related News: Why Did Bitcoin Price Decline? Is the Altcoin Season in Trouble? Here Are All the Answers and Predictions for What's to Come Last month's nonfarm payrolls (NFP) data surprised markets by coming in 37,000 jobs higher than expected. The figure, which was 110,000, actually came in at 147,000, further demonstrating the strength of the US labor market. While there was a strong correlation between US employment data and euro yields in 2024, this relationship has weakened significantly recently. For maturities up to two years, the correlation is almost zero. Conversely, the link with the US remains stronger for British pound yields. 10-year British government bonds (Gilts), in particular, are more sensitive to movements in US Treasuries (USTs). *This is not investment advice. Continue Reading: BREAKING: Critical Nonfarm Payroll and Unemployment Data Released in the US – Here’s Bitcoin’s Initial Reaction
